In Episode 12 of Deal Finder’s Corner, your property fellow and host Guillaume Black welcomes the seasoned property investor, Richard Evans, with over three decades of experience in the UK property market. Richard’s journey took an exciting turn in 2017 when he decided to leave behind a successful corporate career and channel his focus into the world of property.
The Key to Success: Doing Deals, Not Just Searching for Them
So, what’s the secret to his enduring success in property investment? The answer lies in the art of doing deals, not endlessly searching for them. Richard breaks down the process and reveals the game-changing concept of systemizing your deal-sourcing function.
The Power of Systemization: Software, Process, People
Systemisation, as Richard explains, revolves around three pillars: Software, Process, and People. Using tools like Property Filter (PF), a meticulously defined process, and a dedicated team, you can transform your property investment journey. Richard echoes the wisdom of international coach Brad Sugards, emphasising that not employing someone in your business could be costing you a fortune.
Why Delegate? The Value of a Virtual Assistant (VA)
Richard delves into the world of Virtual Assistants (VAs) and their pivotal role in your property investment success. VAs can be your trusted support for various business operations, from administration to specialised tasks. They work from home, possess excellent English skills, and depending on your preferences can be UK-based or based overseas.
Building Your Dream Team
Richard introduces the concept of an “Awakened Business Dream Team,” emphasising that your team members, especially VAs, should be considered an integral part of your business. By strategically structuring your team, you can ensure that urgent tasks are tackled efficiently, all while keeping your expenses in check.
Running Your Sourcing Function with Property Filter
In this episode, Property Filter takes centre stage as the backbone of your sourcing function. The team operates the software while adhering to standardised operating procedures, creating a seamless process.
Standard Operating Procedures: The Blueprint for Success
Richard underscores the importance of Standard Operating Procedures (SOPs) as guides for training new team members. SOPs encompass various functional areas of business, from marketing and sales to operations, finance, and client retention.
The VA Task List: A Comprehensive Guide
Your VA’s responsibilities can span multiple facets of your business, including marketing, operations, finance, and executive assistance. They can help you build and manage your online presence, handle day-to-day operations, manage finances, and even act as an executive assistant.
Common Mistakes to Avoid
Richard shares common pitfalls to steer clear of, such as attempting to do everything solo, inadequate recruitment processes, and lacking essential tools and systems. Effective leadership, task management systems, CRM tools, and reporting processes are all vital components of a successful property business.
Unlock the full potential of your property investment journey by tuning in to this enlightening episode. Richard’s wealth of knowledge and experience can reshape your perspective and propel your property investment business to new heights.